Austal Limited (AU:ASB) has released an update.
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Austal Limited has secured a significant US$152 million contract from the U.S. Navy to enhance the submarine production capacity through infrastructure investments. The contract will fund Austal USA’s role as a partner in the United Submarine Alliance Qualified Opportunity Fund, focusing on expanding the U.S. submarine industrial base near Austal’s facilities. This deal complements a prior US$450 million contract with General Dynamics Electric Boat, reinforcing Austal’s presence in the U.S. submarine sector.
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